Current Report · Items 8.01, 9.01 · 8-K
Rithm Acquisition Corp.
RACNYSEEQUITYCurrent
Other Events
Item 8.01. Other Events On February 28, 2025, Rithm Acquisition Corp. (the “Company”) consummated an initial public offering (the “IPO”) of 23,000,000 units (the “Public Units”) at $10.00 per Public Unit, each Public Unit being comprised of one Class A ordinary shares, $0.0001 par value per share (the “Public Shares”) and one-third of one redeemable warrant, each whole warrant being exercisable fo…
Filed Mar 6, 2025Accepted Mar 6, 2025, 11:30 AM ESTCIK 2047497Accession 0001104659-25-021390
Company context
Rithm Acquisition Corp. is a public acquisition vehicle sponsored by an affiliate of Rithm Capital Corp. (“Rithm Capital”) The Company targets companies in the financial services and real estate sectors where its management and Rithm Capital have extensive investment and operational experience. In addition, the Company also evaluates opportunities relating to digital infrastructure, including opportunities at the convergence of infrastructure and technology. The Company believes that its management team is positioned to drive ongoing value creation post-business combination, as the team has done with multiple prior investments in various sectors over time, and is well suited to identify opportunities that have the potential to generate attractive risk-adjusted returns for its shareholders.
Current securities
Disclosure sections
Items 8.01, 9.01Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 8.01Item 8.01 - Other Events
Item 8.01. Other Events
On February 28,
2025, Rithm Acquisition Corp. (the “Company”) consummated an initial public offering (the “IPO”) of 23,000,000
units (the “Public Units”) at $10.00 per Public Unit, each Public Unit being comprised of one Class A ordinary shares,
$0.0001 par value per share (the “Public Shares”) and one-third of one redeemable warrant, each whole
warrant being exercisable for one Class A ordinary share at an exercise price of $11.50 (subject to adjustment, as described in the
final prospectus relating to the IPO) (the “Public Warrants”). In connection with the IPO, the Company also consummated
a private placement (the “Private Placement”) of units (the “Private Placement Units”) pursuant to which Rithm
Acquisition Corp Sponsor LLC (the “Sponsor”) purchased 600,000 Private Placement Units (and up to 60,000 additional units
if the underwriters in the public offering exercise their option to purchase additional units in full) at $10.00 per Private Placement
Units, each Private Placement Unit being comprised of one Class A ordinary share, $0.0001 par value per share (the “Private
Placement Shares”) and one-third of one non-redeemable warrant, each whole warrant being exercisable
for one Class A ordinary share at an exercise price of $11.50 (subject to adjustment, as described in the final prospectus relating
to the IPO) (the “Private Placement Warrants” and together with the Public Warrants, the “Warrants”).
The net proceeds from
the IPO, together with certain of the proceeds from the Private Placement, $230,000,000 in the aggregate (the “Offering Proceeds”),
were placed in a trust account established for the benefit of the Company’s public shareholders and the underwriters of the IPO
with Continental Stock Transfer & Trust Company acting as trustee. The Company will not be permitted to withdraw any of the principal
or interest held in the trust account, except with respect to amounts withdrawn or eligible to be withdrawn to pay the Company’s
taxes (and such withdrawals can only be made from interest and not from the principal held in the trust account), until the earliest of
(i) the completion of the Company’s initial business combination, (ii) the redemption of the Company’s Public Shares
if the Company has not consummated an initial business combination within the completion window, subject to applicable law, and (iii) the
redemption of the Company’s Public Shares properly submitted in connection with the implementation by the directors of, following
a shareholder vote to approve, an amendment to its amended and restated memorandum and articles of association (A) that would modify
the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their shares redeemed
or repurchased in connection with the Company’s initial business combination or to redeem 100% of the Company’s Public Shares
if the Company does not complete the Company’s initial business combination within 24 months from the closing of the IPO (or 27
months from the closing of the IPO if the Company has executed a letter of intent) or (B) with respect to any other provision relating
to the rights of holders of Public Shares.
An audited balance sheet
as of February 28, 2025, reflecting receipt of the Offering Proceeds, has been issued by the Company and is included as Exhibit 99.1
to this Current Report on Form 8-K. The Company expects to file an amended audited balance sheet reflecting the receipt of additional
offering proceeds from (i) the sale of 3,000,000 Public Units in connection with the closing on February 28, 2025 of the full
exercise of the over-allotment option that was granted to the underwriters of the IPO and (ii) the 60,000 additional Private Placement
Units that were purchased by the Sponsor in connection therewith.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits
99.1 Audited Balance Sheet
104 Cover Page Interactive File, embedded in Inline XBRL.
Filed exhibits (1)
EX-99.1 (by filename) tm258433d1_ex99-1.htmEX-99.1
2
tm258433d1_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
RITHM ACQUISITION CORP. INDEX TO FINANCIAL STATEMENT
PAGE
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Financial Statement of Rithm Acquisition Corp.:
Report of Independent Registered Public Accounting Firm F-2
Balance Sheet as of February 28, 2025 F-3
Notes to Financial Statement F-4
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and the Board of Directors of
Rithm Acquisition Corp.:
Opinion on the Financial Statement
We have audited the
accompanying balance sheet of Rithm Acquisition Corp. (the "Company") as of February 28, 2025, and the related notes (collectively
referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects,
the financial position of the Company as of February 28, 2025, in conformity with accounting principles generally accepted in the
United States of America.
Basis for Opinion
This financial statement
is the responsibility of the C…
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